Texas Gov. Greg Abbott on June 24 announced the eighth Texas Energy Fund (TxEF) loan for 860 megawatts (MW) of new power in Ward County.
Vistra is building the project, which consists of two new natural gas units at its Permian Basin Power Plant, more than tripling the site’s current capacity.
The project is expected to begin generating power for the Electric Reliability Council of Texas (ERCOT) power region in 2028.
The loan agreement between the Texas PUC and Vistra is the eighth finalized under the TxEF’s In-ERCOT Generation Loan Program, which provides low-interest loans for projects that add new, reliable power to the ERCOT region.
In addition to the eight loan agreements already approved, there are currently seven additional applications to the TxEF In-ERCOT Generation Loan Program. Together, they represent an additional 4,030 MW of proposed, new, reliable power for the ERCOT grid.
